Government has come up with 2nd relief package of Rs. 6.29 Crore for sectors hit by 2nd Covid wave. Package includes Rs. 23,200 crore to strengthen health infrastructure. Allocation to credit guarantee scheme has been increased to Rs. 4.5 lakh Crore from Rs. 3 lakh Crore.
Private Equity & IPO
Private Equity and Venture Capital Advisory and advisory on Initial public offers(IPOs) for Corporates, entrepreneurs and investors.
KKR, a global investment firm, and Vini Cosmetics, a branded personal care and beauty products company in India, announced that Company’s Founder Group – led by Darshan Patel, Chairman & Joint-Managing Director, and Dipam Patel, Joint-Managing Director – and Sequoia Capital will sell a majority stake in the Company to KKR for approximately US$625 million (INR 46 billion).
Indian Economy’s recovery pace moderated in April on account of 2nd Covid 19 wave with record infections. Markets remained stable in this month but two IPOs were listed at discount.
The new year has begun on a positive note with vaccination drives in major economies as well as in India. The covid 19 incidence is seen receding and strong economic recovery was seen.
IIP numbers of April demonstrate that Indian Economy has remained resilient to Covid-19 2nd wave. At the same time the stock markets have remained bullish in the month of May.
Key Deals include New Mountain Capital backed Aceto acquiring Finar, Adani Green Energy acquiring SB Energyand Pine Labs raising equity funding.
Pine Labs, a merchant commerce platform, announced that is has completed a new round of financing by raising $285 million. Company was valued at $3 billion as per various reports.
Indian Economy’s recovery pace moderated in April on account of 2nd Covid-19 wave with record infections. Markets remained stable in this month but two IPOs were listed at discount.
Creador sold its stake in Ahmedabad based Corona Remedies to PE fund ChrysCapital. ChrysCapital paid Rs.6.7 billion ($90 million) for a 30% stake, of which 20% came from Creador and 10% from the promoter group.
Capital Market quarterly update published in the ACAE, Kolkata Journal – Association of Corporate Advisors & Executives in April 2021.
Economic activity in India has moved above pre-pandemic levels in spite of vulnerability to risks from the spread of new mutations of the Coronavirus.